Fixed Price IPO | ₹27 Cr | Listed at NSE SME | Fri, Feb 2, 2024 - Wed, Feb 7, 2024
Italian Edibles IPO is a fixed price issue of ₹26.66 crores. The issue is entirely a fresh issue of 0.39 crore shares of ₹26.66 crore.
Italian Edibles IPO bidding started from Feb 2, 2024 and ended on Feb 7, 2024. The allotment for Italian Edibles IPO was finalized on Feb 8, 2024. The shares got listed on NSE SME on Feb 12, 2024.
Italian Edibles IPO price is ₹68 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,36,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,72,000.
First Overseas Capital Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Italian Edibles IPO RHP for detailed Information.
IPO Open
Fri, Feb 2, 2024
IPO Close
Wed, Feb 7, 2024
Issue Price
₹68 per share
Market Cap (Pre-IPO)
₹100.48 Cr
| IPO Date | 2 to 7 Feb, 2024 |
| Listed on | Mon, Feb 12, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹68 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 39,20,000 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 2,00,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 37,20,000 shares (agg. up to ₹25 Cr) |
| Net Offered to Public | 37,20,000 shares (agg. up to ₹25 Cr) |
| Share Holding Pre Issue | 1,08,57,151 shares |
| Share Holding Post Issue | 1,47,77,151 shares |
| NSE Symbol | ITALIANE |
| ISIN | INE0R7R01018 |
Italian Edibles IPO comprises a total issue size of 39,20,000 shares. The net offer to the public is 37,20,000 shares, after excluding 2,00,000 shares allotted on a firm basis. Of the Net offer 18,60,000 (50.00%) allocated to NII 18,60,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 18,60,000 | 50.00% | 47.45% |
| Retail Shares Offered | 18,60,000 | 50.00% | 47.45% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,00,000 | 5.10% | |
| Total Shares Offered | 39,20,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,36,000 |
| Retail (Max) | 1 | 2,000 | ₹1,36,000 |
| HNI (Min) | 2 | 4,000 | ₹2,72,000 |
Founded in 2009, Italian Edibles Limited offers a wide range of confectionery products such as Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour's brand.
The company has two manufacturing facilities at Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh).
Italian Edibles is present all over India, especially in the rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of August 31, 2023, the Company's customer list includes Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. In addition, one of its products, namely Jelly Candies, is sold to Dharpal Premchand Ltd (BABA) Group.
The company has a dedicated sales and marketing team consisting of 15 employees.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 48.25 | 41.55 | 39.05 | 39.46 |
| Total Income | 30.52 | 63.30 | 75.45 | 48.99 |
| Profit After Tax | 2.10 | 2.64 | 0.80 | 0.87 |
| NET Worth | 12.88 | 10.78 | 8.14 | 5.84 |
| Reserves and Surplus | 2.02 | 9.07 | 6.43 | 4.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by our Company | 8.00 |
| 2 | Repayment of certain Borrowings | 6.14 |
| 3 | To meet incremental working capital requirements | 6.00 |
| 4 | General Corporate Expenses | 5.71 |
| 5 | To meet the expenses of the Issue | 0.80 |
| Total | 26.66 |
| KPI | |
|---|---|
| ROE | 24.50% |
| ROCE | 19.32% |
| Debt/Equity | 1.60 |
| RoNW | 24.50% |
| PAT Margin | 4.17% |
| Price to Book Value | 1.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.43 | 3.41 |
| P/E (x) | 27.94 | 19.97 |
| Promoter Holding | 100.00% | 73.47% |
| Market Cap | ₹100.48 Cr. |
The Italian Edibles IPO is subscribed 154.43 times on February 7, 2024 7:30:00 PM (Day 4). The public issue subscribed 120.62 times in the retail category, [.] times in the QIB category, and 177.37 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 177.37 | 18,60,000 | 32,99,16,000 |
| Retail | 120.62 | 18,60,000 | 22,43,56,000 |
| Total | 154.43 | 37,20,000 | 57,44,78,000 |
Total Application : 1,12,178
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, underwriting, and selling commissions, brokerages, Advisors to the Company, payment to other intermediaries such as Legal Advisors, Registrars etc. and other out of pocket expenses | 0.60 |
| 2 | Advertising and marketing expenses | 0.04 |
| 3 | Printing & Stationery, Distribution, Postage | 0.03 |
| 4 | ROC, Regulatory and other expenses including Listing Fee | 0.13 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹68.00 |
| Open | ₹55.00 |
| Low | ₹52.25 |
| High | ₹57.75 |
| Last Trade | ₹57.75 |
Lead Manager Reports
Italian Edibles IPO is a SME IPO of 39,20,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹68 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Feb 2, 2024, and closes on Wed, Feb 7, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Italian Edibles IPO using UPI as a payment gateway. Zerodha customers can apply in Italian Edibles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Italian Edibles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Italian Edibles IPO opens on Fri, Feb 2, 2024 and closes on Wed, Feb 7, 2024.
Italian Edibles IPO lot size is 2000, and the minimum amount required for application is ₹1,36,000.
You can apply in Italian Edibles IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Italian Edibles IPO will be done on Thursday, February 8, 2024, and the allotted shares will be credited to your demat account by Fri, Feb 9, 2024. Check the Italian Edibles IPO allotment status.
The Italian Edibles IPO listing date is on Mon, Feb 12, 2024.
